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Barclay’s analyst pessimistic On Macau Gambling
Monday May 18,2015 : MACAU WOES NOT OVER YET, SAY ANALYST
Barclay’s analyst pessimistic on short term prospects...but says it's ultimately going to be a good market.
A Barclay's analyst, Felicia Hendrix, said this week that predictions that the declining Macau gambling has almost bottomed out may be premature, but that the long term prospects for the region's gambling operations are good.
Citing persistent difficulties impacting the Macau gambling market at present - the crackdown on corruption by the Chinese government, and a slower Chinese economy - Hendrix opined that it is still too early to call the bottom of the declining market despite the launch of new properties on the island.
However, she took a brighter view in the longer term, quoting numbers from a McKinsey survey that indicate a market of around 200 million gamblers that could grow by a third to 300 million by 2020.
"Given China's rapidly growing middle class, we view the opportunity for robust growth in Mass GGR in Macau over the long term as promising," Hendrix observed, adding that before consistent growth can be achieved the current situation in the market will have to stabilise.
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Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
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Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
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2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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